22 December 2014

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Retired Member

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SEPA and white elephants

07 June 2010  |  2618 views  |  1

If one was to take a spectator’s view of SEPA progress to date, one could be excused if the image of a white elephant flashed before one’s eyes . . . . .

We had a memorable white elephant in the UK not so long ago : the Millennium Dome. It was central to the country’s celebrations at the turn of the millennium, but there was little clarity on what exactly it was for, and whether anybody really needed it.

The project managers were often at odds with the authorities (in this instance, the UK government), which resulted at times in there being very little control over the progress of the project, which ended up costing far more than originally planned. And when the Dome finally opened its doors, far fewer visitors than expected actually bothered to turn up.

It’s all turned out nicely now as the Dome has taken on a new life as an entertainment centre, but it was touch and go for quite a while.

The similarities with the SEPA project  so far are all too obvious, but it’s certainly not too late to amend that. We just need a concerted effort to gain clarity on what it’s for, and a clear articulation of the business case for all stakeholders so they can justify why it is needed.

Can we look to the project managers to provide that ?

 

TagsPaymentsWholesale banking

Comments: (1)

Roy McPherson - Macroy Consulting - Maldon | 07 June, 2010, 10:55

Best hope the Euro stays a single unit.

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